| Schedule of warrant liability |
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Future |
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Estimated |
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Warrant |
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Time to |
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Calculated |
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Quarterly |
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Exercise |
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Expiration |
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Interest Rate |
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Volatility |
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Maturity |
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fair value |
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Dividend |
Black -Scholes Assumptions |
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Price |
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Date |
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Stock Price (8) |
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(annual) (9) |
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(annual) (10) |
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(Years) |
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per share |
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per share(11) |
September 2, 2021(1) |
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$ |
0.15 |
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September 2, 2024 |
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$ |
0.10 |
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0.78 |
% |
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182.74 |
% |
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5.0 |
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$ |
0.0095 |
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$ |
— |
March 11, 2021(2) |
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$ |
0.125 – 0.15 |
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March 11, 2024 |
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$ |
0.10 |
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0.17 |
% |
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172.54 |
% |
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5.0 |
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$ |
0.0093 - 0.0094 |
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$ |
— |
February 3, 2021(3) |
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$ |
0.08 |
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February 3, 2024 |
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$ |
0.08 |
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0.18 |
% |
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171.71 |
% |
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3.0 |
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$ |
0.0690703 |
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$ |
— |
December 24, 2020(4) |
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$ |
0.08 |
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December 24, 2020 |
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$ |
0.08 |
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0.17 |
% |
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172.54 |
% |
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3.0 |
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$ |
0.0692188 |
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$ |
— |
March 18, 2020(5) |
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$ |
0.04 |
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March 18, 2020 |
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$ |
0.04 |
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0.66 |
% |
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137.41 |
% |
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3.0 |
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$ |
0.0307299 |
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$ |
— |
September 10, 2019(6) |
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$ |
0.014 |
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September 10, 2022 |
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$ |
0.014 |
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1.61 |
% |
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139.84 |
% |
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3.0 |
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$ |
0.01091 |
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$ |
— |
November 6, 2019(7) |
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$ |
0.014 |
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November 6, 2022 |
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$ |
0.014 |
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1.60 |
% |
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138.48 |
% |
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3.0 |
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$ |
0.01095 |
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$ |
— |
Significant inputs into the model at the reporting period measurement dates are as follows:
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Future |
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Estimated |
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Warrant |
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Time to |
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Calculated |
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Quarterly |
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Exercise |
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Expiration |
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Interest Rate |
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Volatility |
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Maturity |
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fair value |
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Dividend |
Black-Scholes Assumptions |
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Price |
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Date |
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Stock Price (8) |
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(annual) (9) |
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(annual) (10) |
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(Years) |
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per share |
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per share(11) |
September 30, 2021(1) |
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$ |
0.15 |
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September 2, 2024 |
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$ |
0.10 |
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0.98 |
% |
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186.60 |
% |
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5.00 |
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$ |
0.00955743 |
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$ |
— |
September 30, 2021(2) |
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$ |
0.125 – 0.15 |
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March 11, 2024 |
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$ |
0.10 |
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0.98 |
% |
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186.60 |
% |
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4.45 |
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$ |
0.00946 - 0.00941 |
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$ |
— |
September 30, 2021(3) |
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$ |
0.08 |
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February 3, 2024 |
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$ |
0.08 |
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0.28 |
% |
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186.60 |
% |
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4.45 |
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$ |
0.0677956 |
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$ |
— |
September 30, 2021(4) |
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$ |
0.08 |
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December 24, 2020 |
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$ |
0.08 |
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0.28 |
% |
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186.60 |
% |
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2.35 |
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$ |
0.0669797 |
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$ |
— |
September 30, 2021(5) |
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$ |
0.04 |
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March 18, 2020 |
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$ |
0.04 |
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0.28 |
% |
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186.60 |
% |
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2.23 |
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$ |
0.0296428 |
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$ |
— |
September 30, 2021(6) |
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$ |
0.014 |
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September 10, 2022 |
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$ |
0.014 |
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0.09 |
% |
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186.60 |
% |
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1.46 |
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$ |
0.0296428 |
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$ |
— |
September 30, 2021(7) |
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$ |
0.014 |
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November 6, 2022 |
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$ |
0.014 |
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0.09 |
% |
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186.60 |
% |
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0.95 |
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$ |
0.0094172 |
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$ |
— |
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Future |
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Estimated |
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Warrant |
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Interest |
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Time to |
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Calculated |
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Quarterly |
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Exercise |
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Expiration |
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Stock |
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Rate |
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Volatility |
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Maturity |
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fair value |
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Dividend |
Black-Scholes Assumptions |
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Price |
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Date |
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Price (8) |
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(annual) (9) |
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(annual) (10) |
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(Years) |
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per share |
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per share(11) |
December 31, 2020(4) |
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$ |
0.08 |
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December 24, 2020 |
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$ |
0.08 |
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0.17 |
% |
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172.38 |
% |
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2.98 |
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$ |
0.0692188 |
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$ |
— |
December 31, 2020(5) |
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$ |
0.04 |
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March 18, 2023 |
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$ |
0.04 |
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0.13 |
% |
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172.38 |
% |
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2.21 |
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$ |
0.0307299 |
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$ |
— |
December 31, 2020(6) |
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$ |
0.014 |
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September 10, 2022 |
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$ |
0.014 |
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0.13 |
% |
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172.38 |
% |
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1.85 |
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$ |
0.01091 |
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$ |
— |
December 31, 2020(7) |
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$ |
0.014 |
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November 6, 2022 |
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$ |
0.014 |
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1.13 |
% |
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172.38 |
% |
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1.69 |
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$ |
0.01095 |
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$ |
— |
| (1) |
Based on the terms provided in the warrant agreement related to the issuance of common stock of on September 2nd, 2021
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| (2) |
Based on the terms provided in the warrant agreement related to the issuance of common stock of on March 11th, 2021
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| (3) |
Based on the terms provided in the warrant agreement related to the issuance of common stock of on February 3rd, 2021
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| (4) |
Based on the terms provided in the warrant agreement related to the issuance of common stock of on December 24th, 2020
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| (5) |
Based on the terms provided in the warrant agreement related to the issuance of common stock of on March 18th, 2020
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| (6) |
Based on the terms provided in the warrant agreement related to the issuance of common stock of on September 10th, 2019
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| (7) |
Based on the terms provided in the warrant agreement related to the issuance of common stock of on November 6th, 2019
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| (8) |
Based on the observable transaction value of common stock of per the most recent stock issuance financing agreements. |
| (9) |
Interest rate for U.S. Treasury Bonds, as of the issuance dates and each presented period ending date, as published by the U.S. Federal Reserve. |
| (10) |
Based on the historical daily volatility of Guideline Public Companies and each presented period ending date. |
| (11) |
Current estimated dividend payments beyond initial four quarters. At a future date, the company will review the working capital needs and make a final determination of any future dividend payments. |
The warrants outstanding and fair values at each of the respective valuation dates are summarized below:
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Warrants |
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Fair Value |
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Warrant Liability |
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Outstanding |
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per Share |
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Fair Value |
Fair Value as of period ending 12/31/19 |
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5,250,000 |
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$ |
0.01086 |
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$ |
56 |
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Fair Value at initial measurement date |
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1,805,000 |
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$ |
0.03616 |
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$ |
65 |
Change in fair value of warrant liability |
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2 |
Fair Value as of period ending 12/31/20 |
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7,055,000 |
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$ |
123 |
Fair Value at initial measurement dates |
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2,230,667 |
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$ |
0.08933 |
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$ |
203 |
Change in fair value of warrant liability |
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(10) |
Fair Value as of period ending 9/30/2021 |
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9,285,667 |
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$ |
316 |
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